Hyundai has made no secret of the fact that it wants to build an electric vehicle manufacturing facility in the United States. It announced $7.4-billion in investments across the US by 2025, destined for both upgrading its existing factories, but also building the all-important new one that will only build EVs. The new plant will […]
Hyundai Motor’s Q3 operating profit reaches 1.6 trillion won, down 14.8 pc – EQ Mag Pro
South Korea : Hyundai Motor’s operating profit in the third quarter (July-September) fell 14.8 per cent from the previous quarter to 1.6067 trillion won. It is analyzed because sales decreased by 9.9 per cent due to production delays by the semiconductor shortage. Hyundai Motor Company held a Q3 2021 earnings conference call at its headquarters […]
Hyundai Motor to Improve Safety of Second Life Battery Energy Storage System
Hyundai Motor Group and UL signs a memorandum of understanding on Friday. South Korea’s top automaker Hyundai Motor said Sunday it has signed a memorandum of understanding with safety standards company UL to strengthen the safety of its second life battery energy storage system, also known as SLBESS. The move will see both companies work […]
Hyundai Motor to Produce Hydrogen Fuel Cell System Technology For Marine Vessels
Hyundai Motor is set to apply its hydrogen fuel cell system technology for marine vessel propulsion systems with the signing of a memorandum of understanding (MoU) with Hyundai Global Service and Korea Register (KR). Revealed on Thursday (July 8), the MoU marks a significant milestone for Hyundai Motor as it is the company’s first strategic […]
Hyundai Motor to invest in Solid Energy Systems, a next-gen battery company
Solid Energy developed a prototype lithium metal battery, a next-generation battery that made up for the shortcomings of existing lithium batteries. Seoul : Hyundai will invest USD 100 million (KRW 113.6 billion) in Solid Energy System corporations, the developer of lithium metal batteries. According to the industry, Hyundai Motor recently signed an equity investment agreement […]
Hyundai Motor India Foundation inks pact with FITT-IIT Delhi
New Delhi : Hyundai Motor India Foundation on Wednesday said it has signed pact with FITT-IIT Delhi to help students study alternate energy powered vehicles and emerging technologies to innovate new-age mobility solutions. Under the memorandum of understanding (MoU), the foundation, which is the philanthropic arm of Hyundai Motor India, donated a KONA Electric for […]
Hyundai Motor Group pushes for project to reuse waste EV batteries
SEOUL : Hyundai Motor Group, the world’s fifth-largest automotive group, said Sunday that it will carry out a pilot project to reuse batteries used for electric vehicles (EVs) at solar power plants. The move follows the Ministry of Trade, Industry and Energy’s recent decision to give regulatory exemptions for new business models based on reusing […]
Hyundai Motor eyes thrust on electric vehicles in $52 bn investment plan
Shares in Hyundai rose as much as 2 per cent on the news, only to give up most of their gains by the close of trade, with analysts waiting to see how its intentions translate into action SEOUL: Hyundai Motor plans to invest about 61.1 trillion won ($51.81 billion) between 2020 and 2025, the company […]
